What Auto Insurance is Cheapest for Drivers Over Age 70 in Miami?

The words “low-cost” and “auto insurance” really shouldn’t be used together, especially when you are looking for the lowest insurance rates for drivers over age 70. Because of the high cost, let’s familiarize you with some situations the can have a considerable influence on auto insurance premiums, and see if we can help you reduce the cost of your next policy.

The vehicle requiring coverage is probably the largest consideration when shopping around for low-cost car insurance for drivers over age 70. Vehicles with more horsepower, poor safety ratings, or a high likelihood of having liability claims will cost more to insure than more modest models.

The next table presents coverage rates for a handful of the most cost-effective vehicles to buy coverage for.

Cheapest Vehicles to Insure in Miami, FL
Insured Vehicle Estimated Cost for Full Coverage
Honda CR-V LX 2WD $3,104
Honda Accord LX-P 4-Dr Sedan $3,114
Ford Escape XLT 4WD $3,156
Toyota Prius $3,407
Jeep Wrangler Rubicon 4WD 2-Dr $3,482
Ford Explorer XLT 4WD $3,490
Dodge Grand Caravan CV $3,482
Honda Odyssey EX $3,628
Ford Focus SE 4-Dr Sedan $3,636
Chevrolet Impala LS $3,628
Chevrolet Silverado LT Extended Cab 4WD $3,680
Nissan Altima 2.5 4-Dr Sedan $3,685
Chevrolet Malibu LS $3,680
Toyota RAV4 4WD $3,685
Ford F-150 Lariat Crew Cab 2WD $3,733
Hyundai Elantra SE 4-Dr Sedan $3,875
Toyota Camry XLE $3,885
Toyota Corolla LE $3,875
Toyota Tacoma X-Runner 2WD $3,881
Ford Edge Sport 2WD $3,875
GMC Sierra SLT Extended Cab 4WD $3,928
GMC Sierra 2500HD SLE Extended Cab 4WD $3,935
Chevrolet Equinox LTZ AWD $3,928
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Prices above based on single female driver age 70, no speeding tickets, no at-fault accidents, $1,000 deductibles, and Florida minimum liability limits. Discounts applied include safe-driver, multi-policy, claim-free, multi-vehicle, and homeowner. Premium costs do not factor in vehicle location which can increase or decrease coverage prices considerably.

Looking at the data, we can conclude that models like the Honda CR-V, Honda Accord, and Ford Escape will definitely be a few of the most affordable vehicles to insure for older drivers. Prices will tend to be more expensive anyway because there is more claim exposure for drivers over age 70, but overall those particular models will probably have the cheapest rates compared to other types of vehicles.

For older drivers, one of the largest factors that are looked at to help calculate the annual cost of car insurance is where you live in Miami. More densely populated places are more likely to pay higher prices, whereas areas with less crime or weather claims have the luxury of lower rates.

The table below lists the priciest cities in Florida for drivers over age 70 to buy auto insurance in. Miami ranks #2 with a yearly premium of $3,177 for the average policyholder, which is around $265 each month.

How much is car insurance in Miami?
Rank City Annual Premium
1 Hialeah $3,488
2 Miami $3,177
3 Miami Gardens $3,149
4 Miami Beach $3,013
5 West Palm Beach $2,679
6 Tampa $2,610
7 Miramar $2,603
8 Hollywood $2,552
9 Coral Springs $2,549
10 Pompano Beach $2,543
11 Fort Lauderdale $2,500
12 Davie $2,448
13 Pembroke Pines $2,431
14 Brandon $2,322
15 St. Petersburg $2,219
16 Clearwater $2,172
17 Spring Hill $2,102
18 Orlando $2,029
19 Port St. Lucie $1,994
20 Jacksonville $1,980
21 Cape Coral $1,898
22 Lakeland $1,827
23 Palm Bay $1,786
24 Tallahassee $1,784
25 Gainesville $1,680
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Annual rates are estimated as the vehicle garaging location can influence coverage rates greatly.

Buying coverage from a highly-rated auto insurance provider can be challenging considering how many different companies there are to choose from in Miami. The information below could help you select which auto insurers to look at when comparing auto insurance rates for drivers over age 70. The ratings below include companies that insure vehicles across America, so companies without a large exposure are not included in the list.

Best 15 Auto Insurance Companies for Drivers Over Age 70 in Miami
Company Value Customer Service Claims Customer Satisfaction A.M Best Rating Overall Score
Travelers 93 98 99 88% A++ 95.1
USAA 83 99 100 91% A++ 94.1
Mercury Insurance 97 96 88 89% A+ 93.4
AAA Insurance 91 95 92 90% A 93.3
Nationwide 85 95 97 89% A+ 92.4
Allstate 77 100 97 88% A+ 90.7
State Farm 80 94 96 88% A++ 90.6
The Hartford 88 93 91 87% A+ 90.4
Safeco Insurance 91 95 85 88% A 90.2
Progressive 88 94 83 88% A+ 90.1
American Family 91 86 95 83% A 89.7
Esurance 86 90 94 90% A+ 89.5
The General 86 93 89 84% A- 88.2
GEICO 79 89 95 87% A++ 87.8
Titan Insurance 86 82 92 86% A+ 86.5
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Data Source: Insure.com Best Car Insurance Companies

Get discounts on Miami car insurance rates

Cheaper Miami, FL auto insurance for older driversInsurance providers that provide policies for drivers over age 70 may also give you rate discounts that may potentially lower prices by 40% or more if you meet certain criteria. Large auto insurance companies and some of their more popular discounts are:

The chart below visualizes the comparison of auto insurance rates with and without discounts applied to the policy rates. The premiums assume a female driver, no driving violations, no at-fault accidents, Florida state minimum liability limits, comp and collision included, and $500 deductibles.

The first bar for each age group shows the average rate with no discounts. The lower bar shows the rates with defensive driving course, claim-free, accident-free, vehicle safety, anti-theft, and multiple policy discounts applied. When discounts are factored in, the average amount saved each year on auto insurance for drivers over age 70 is 28% or $518.

The benefit of shopping around

Miami, FL auto insurance rates are determined by lots of factors that will increase or decrease the price you have to pay for coverage. Simply having another birthday, buying another vehicle, or getting a ticket for running a stop sign can cause premium changes resulting in some rates now being cheaper than before. In addition, insurance companies change rates as often as every quarter in order to offset underwriting gains or losses. Higher than normal claims can result in higher priced premiums, while profitable underwriting may produce cheaper Miami car insurance rates.

For instance, the data below shows a variety of companies that have the cheapest car insurance in Miami, FL for a 30-year-old male driver with no accidents or violations, and great credit. If we estimate rates based on his current situation, USAA might offer the most affordable car insurance rates in Miami at $1,846 per year. This is $602 less than the average rate paid by Florida drivers of $2,448. Electric, Amica, Progressive, and Travelers also make the list of the cheapest Miami, FL auto insurance companies.

Let’s now give the driver from the first rate comparison a chargeable claim, a little lower credit rating, and a traffic ticket or two. Because each company uses their own method for setting prices, comparing quotes may now show a completely different list of affordable companies as shown below.

USAA now has the cheapest insurance rate in Miami with Mercury, Esurance, GEICO, and Auto-Owners also being competitive. This example shows why it is important to spend some time comparing rates to get the lowest insurance quotes for drivers over age 70.

Car insurance prices are made up of many different factors and can change without notice, so the most economical option when you bought your policy may now be one of the more expensive options.

If you wish to have professional advice when shopping for the best coverage for drivers over age 70, the agents listed below can help you decide which auto insurance policy would work best for you.

To locate an agency close to where you live, click the link at the bottom.

The Market Insurance Agency
7900 NW 27th Ave #604bMiami, FL 33147(786) 542-5233

Assure-Us The Insurance Agency
1880 NE 163rd StNorth Miami Beach, FL 33162(305) 956-7818

Latin American Association-Insurance Agency
2550 NW 72nd Ave #318Miami, FL 33122(305) 477-1442

More insurance agents in Miami, FL